Thursday, 3 May 2012

Crest Builder up12% to 4-year high

KUALA LUMPUR (May 3) : CREST BUILDER HOLDINGS BHD [] rose as much as 12% to the stock’s highest in nearly four years ahead of the announcement of the CONSTRUCTION [] firm’s first quarter financials this month.

Shares of Crest Builder added 11.5 sen to RM1.04, the highest since June 2008, before erasing gains to RM1.01 as at 3.53pm with some 3.4 million shares done.

The reasons for the stock’s gains are unclear for now. But it is worth noting that Crest had on Wednesday announced that its chairman Tengku Datuk Sulaiman Shah Tengku Abdul Jalil Shah and managing director Yong Soon Chow intend to deal in the company’s shares during the close period for the stock pending the release of Crest Builder’s first quarter results.

Yong has a direct 34.81% stake in the construction firm while Sulaiman’s owns an indirect 5.49% .

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